"Our aim is to protect our unique marine environment, while supporting coastal communities and marine industries around the country," said Burke.

"Over the coming months, the government will consult the fishing industry and fisheries management agencies on the design and implementation of a fisheries adjustment assistance package."

WWF Australia hailed the plan as an "important example to the world." The newly created sanctuaries would give protection to Australia's biggest undersea mountain range, the Diamantina fracture zone off the southwest coast, as well as new parts of the Coral Sea that are critical nesting sites for green turtles and rich in large predatory fish and sharks.

Paul Gambin from WWF Australia cautioned that some areas equally rich in biodiversity had not been included in the plan, possibly because of their proximity to rich reserves of fossil fuels.

"Oil and gas rigs are still moving ever closer to places like the stunning Rowley Shoals and Ningaloo Reef off Western Australia," said Gambin in a press statement. "These are among the jewels in the crown for Australia's marine environment and surrounding waters have not been protected under this plan."

The marine reserves network is expected to be finalized before the end of 2012.